Skill migration will sustain house prices recovery

[{"selector":"#anim-3ab4d556-48f2-405a-89ea-5de2758375be [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(3.5527136788005e-15%, 2.528317205966838e-7%) scale(0.8333333333333334)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] A RECORD migrant intake will put Australia’s housing prices firmly on the recovery path in FY24, with house prices in Sydney, Adelaide and Perth set to reach record highs. Read more

[{"selector":"#anim-b3e27012-e711-436b-bf0b-478826e18a04 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(3.5527136788005e-15%, 2.528317205966838e-7%) scale(0.8333333333333334)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] According to Domain’s Forecast Report, the market will be in a “well-established, steady” recovery with Sydney clearly out in front... Read more

[{"selector":"#anim-57eb2391-fa86-4df6-9556-3f1cc677a1cf [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(3.5527136788005e-15%, 2.528317205966838e-7%) scale(0.8333333333333334)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] Domain chief of research and economics, Nicola Powell, said population pressures will lead the charge in factors driving housing demand and property prices higher... Read more

[{"selector":"#anim-a9e03919-1804-4b12-b5c0-a375db08989a [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(3.5527136788005e-15%, 2.528317205966838e-7%) scale(0.8333333333333334)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] “Australia has seen an exponential increase in temporary and permanent migration since the international border reopened in... Read more

[{"selector":"#anim-7ac1ca2f-e09c-4717-9b01-b721963b1288 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(4.932693372218877e-15%, 2.5074219883873775e-7%) scale(0.8264462809917356)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] Australia is expected to welcome 400,000 people this year in net terms, driven by students coming into the country after the removal of COVID... Read more

[{"selector":"#anim-0c3ede76-c454-4104-ba3f-4532cc2146cb [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(3.5527136788005e-15%, 2.528317205966838e-7%) scale(0.8333333333333334)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] “When you combine this with unprecedented headwinds in the construction industry and unseasonably weak listings... Read more

[{"selector":"#anim-1b7271cf-7506-480f-ab97-6a1aef148c47 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(3.5527136788005e-15%, 2.528317205966838e-7%) scale(0.8333333333333334)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] “While prices are expected to rise, affordability will contain the pace of growth, as the likes of rapidly rising interest rates and ongoing mortgage... Read more

[{"selector":"#anim-841b8af5-a12d-40f6-b5e1-f2a622c2f13f [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(4.932693372218877e-15%, 2.5074219883873775e-7%) scale(0.8264462809917356)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] Mortgage holders were facing the worst housing affordability since September 2008 by the end of the March quarter – before the... Read more

[{"selector":"#anim-f9802064-c82b-4fcf-9503-84a8ff0b1957 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(4.932693372218877e-15%, 2.5074219883873775e-7%) scale(0.8264462809917356)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] RBA governor Philip Lowe last year sensationally apologised to the thousands of Australians who took out mortgages on the... Read more

[{"selector":"#anim-b93ed0d6-f101-46ae-a96e-7685d3fd4e18 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(3.5527136788005e-15%, 2.528317205966838e-7%) scale(0.8333333333333334)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] According to Domain, Hobart (3-5%) and Adelaide (2-5%) will lead house price growth in FY24, followed by Canberra... Read more

[{"selector":"#anim-3b67f8ed-ffd6-4389-bb63-5370783b050f [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(4.932693372218877e-15%, 2.5074219883873775e-7%) scale(0.8264462809917356)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] Melbourne house prices, meanwhile, will remain relatively stable over the next financial year, growing from 0% to 2%, and will remain lower than the... Read more

[{"selector":"#anim-575bd22b-7a7a-4ab4-afdf-cb9a2534e286 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(0%, 2.4868693735996083e-7%) scale(0.819672131147541)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] Unit prices in Brisbane, Adelaide and Hobart could also have recovered from last year’s downturn by the end of FY24, with expected steady gains of... Read more

[{"selector":"#anim-93f1affb-9496-43a3-ab1c-4dab8acd070d [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(3.5527136788005e-15%, 2.528317205966838e-7%) scale(0.8333333333333334)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] Sydney will lead growth in the unit market as well (2-5%), although still below the December 2021 peak, with Perth (1-3%) expecting modest growth... Read more

[{"selector":"#anim-2ef374db-d958-4c96-9396-804b0c5a0f33 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(3.5527136788005e-15%, 2.528317205966838e-7%) scale(0.8333333333333334)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] Domain expects house and unit prices across the regions to increase modestly over the coming financial year, with house prices expected to outperform units. Read more Modest growth for regions

[{"selector":"#anim-808527f9-c5fe-417f-8f18-5374bd76aecc [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(4.932693372218877e-15%, 2.5074219883873775e-7%) scale(0.8264462809917356)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] Migration policies in the past have pushed migrants towards regional areas with migrants willing to live in regional areas as they are... Read more

[{"selector":"#anim-1ef18471-c54f-433e-ba1b-d9290b9fdb43 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(3.5527136788005e-15%, 2.528317205966838e-7%) scale(0.8333333333333334)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] “That being said, with housing affordability remaining a significant barrier in our largest capital cities, demand will likely remain from... Read more

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